Tandem Diabetes Care (NASDAQ:TNDM) Coverage Initiated by Analysts at TD Cowen

TD Cowen started coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note published on Tuesday. The brokerage issued a buy rating and a $25.00 price target on the medical device company’s stock.

Several other research analysts have also recently issued reports on TNDM. Truist Financial set a $24.00 target price on shares of Tandem Diabetes Care and gave the stock a “hold” rating in a report on Thursday, December 18th. Morgan Stanley set a $23.00 price objective on shares of Tandem Diabetes Care and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Canaccord Genuity Group set a $35.00 price objective on Tandem Diabetes Care and gave the company a “buy” rating in a research report on Wednesday, December 17th. Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Stifel Nicolaus started coverage on Tandem Diabetes Care in a report on Tuesday, October 21st. They set a “hold” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus target price of $24.06.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $20.15 on Tuesday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -6.61 and a beta of 1.68. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $37.93. The business has a 50 day moving average of $21.33 and a 200 day moving average of $16.54. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.31). The company had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. On average, sell-side analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in Tandem Diabetes Care by 30.5% in the first quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock worth $4,054,000 after buying an additional 49,408 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tandem Diabetes Care by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock valued at $1,426,000 after buying an additional 2,096 shares in the last quarter. Millennium Management LLC increased its position in Tandem Diabetes Care by 41.1% in the first quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock worth $4,361,000 after purchasing an additional 66,245 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Tandem Diabetes Care in the first quarter worth about $225,000. Finally, Goldman Sachs Group Inc. boosted its stake in Tandem Diabetes Care by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock worth $13,653,000 after buying an additional 34,069 shares during the period.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.